Growth hacking workshop @ University of Amsterdam

© All rights reserved AlumUnited 2016
GROWTH HACKING
BY FRIDO VAN DRIEM
1
“20% MoM”
WORKSHOP

• Principles of growth hacking
• Setting up AARRR model and funnel analysis
• Defining KPI or OKRS for growth plan
• Devising and tracking growth experiments
• How to run effective growth meetings
• Tooling
WORKSHOP | LEARNING GOALS

WHAT IS GROWTH
HACKING?
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MAD MEN & WOMEN MEETS THE INTERNET

We have got a great new product!
source image: http://filmescape.com/wp-content/uploads/2014/09/mad-men-pitch-3.jpg

Congratulation… join the product market ﬁt club!

LEAN
STARTUP
GROWTH
HACKING IS NOT…

TIME >>
PROBLEM / SOLUTION FIT
PRODUCT / MARKET FIT
REPEATABLE BUSINESS MODEL
SCALING UP REVENUE
EXIT / IPO
GROWTH HACKING IS AFTER PM FIT
GROWTH>>

— From acquisition all the way to revenue
GROWTH HACKING IS
EXPERIMENT DRIVEN
MARKETING
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GROWTH MODEL | PROCESS
1. Planning / Modeling
2.Growth Test / Experiments
IDEA
EXPERIMENT
ANALYZE
DESIGN

A SUCCESSFUL EXPERIMENT = A HACK IN THE GROWTH ENGINE
GROWTH = SUM:(ALL EXPERIMENTS)

PROCESS OF OPTIMIZING

GROWTH MACHINE
A GROWTH MACHINE IS ALWAYS:
• SCALABLE
• PREDICTABLE
• REPEATABLE

HOW TO SET UP AARRR
MODEL?
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GROWTH MODEL | AARRR FRAMEWORK
ACQUISITION
ACTIVATION
RETENTION
REFERRAL
REVENUE
How do users find us?
How are users activated?
Do users come back?
How do you make money?
Do users tell others?

1. TARGETING BLOGS
2. PUBLICITY
3. UNCONVENTIONAL PR
4. SEARCH ENGINE MARKETING
5. SOCIAL AND DISPLAY ADS
6. OFFLINE ADS
7. SEARCH ENGINE OPTIMALISATION
8. EXISTING PLATFORMS
9. SPEAKING ENGAGEMENTS
10.COMMUNITY BUILDING
11.CONTENT MARKETING
12.EMAIL MARKETING
13.VIRAL MARKETING
14.ENGINEERING AS MARKETING
15.BUSINESS DEVELOPMENT
16.SALES
17.AFFILIATE PROGRAMS
18.TRADE SHOWS
19.OFFLINE EVENTS
19 ACQUISITION CHANNEL

ACQUISITION
How do users find you?

SEO
Users are able to find you

SEO
Users are able to learn about you

ACTIVATION
How are users activated?

RETENTION
How are users coming back?

REFERRAL
Are users able to inform others about the product or service?

REVENUE
How do you make money?

FILL OUT YOUR AARRR MODEL
EXCERCISE
Write down the definition of each stage within the AARRR model along with the
metric you use in order to measure growth.
Acquisition:
‘Defined as getting new users to the landingpage’
Main channels:
Social Ads
Organic Search
Targeting blogs
One metric that matters:
Cost of acquisition

FILL OUT YOUR FUNNEL ANALYSIS
EXCERCISE
Write down the customer journey of the user along with the call to actions
Customer Journey CTA

BREAK

HOW TO REACH YOUR
GROWTH GOAL?
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HAVE A GROWTH PLAN

• Define the long term strategy of the firm (3-5 year)
• Define short term strategy of the firm (1-2 year)
• Fill out AARRR Model
• Define OMTM per segment of AARRR Model
• Create Funnel analysis
• Based on finding define goal for coming 3 months + resources needed
• Create backlog and create experiment doc
• Write 3 Experiments in the document
• Put it down in backlog
ACTION POINTS GROWTH PLAN

OBJECTIVE: Quantitative statement
TIMEFRAME: Be speciﬁc
KEY RESULT 1: Measurable Goal 1(HIT 90% OF THE TIME)
KEY RESULT 2: Measurable Goal 2 (HIT 50% OF THE TIME)
KEY RESULT 3: Measurable Goal 3 (HIT 10% OF THE TIME)
RULE OF THUMB IN PLANNING

AFTER GOAL IS SET TIME TO STEP ON THE PEDEL!

4 KEYS DOCUMENTS
1. BACKLOG
2. PIPELINE
3. EXPERIMENT DOC
4. PLAYBOOK
“Keep track of all the good stuff”
“Experiments that are being run”
“Layout the objective step by step ”
“Master guide with all the successes”

EXPERIMENT BACK LOG HYPOTHESIS RESOURCES
NAME STATUS CATEGORY OMTM DESCRIPTION PREDICTION MARKETING DEVELOPMENT
EXP 1. IDEA ACQUISTION CTR
Click on
adword
+25% 4 HOURS 12 HOURS
EXAMPLE BACKLOG

— 80/20 rule of Growth Hacking
GROWTH EXPERIMENT
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If successful [variable]
will increase by [impact]
because [assumptions]
SETTING UP A HYPOTHESES

BRAIN STORM ON THE INPUT NOT THE OUTPUT
ACTIVATION RATE = CONVERSION * CONVERSION * CONVERSION *
BRAINSTORM BRAINSTORM BRAINSTORMIMPROVE

THE GOAL OF THE PROCESS
1. RHYTHM
2. LEARNING
3. AUTONOMY
4. ACCOUNTABILITY
“GOOD FLOW OF EXPERIMENTS”
“FAIL FAST LEARN FASTER”
“YOU DECIDE WHAT TO DO TO ACHIEVE TEAM GOAL ”
“OKE TO FAIL BUT WE EXPECT GROWTH”

RUN CONTINUOUS EXPERIMENTS TO IMPROVE THE CAR
GROWTH IS EXPERIMENT DRIVEN MARKETING
1. BRAIN STORM
2. PRIORITIZE
3. TEST
4. IMPLEMENT
5. ANALYZE
6. SYSTEMIZE

1. BRAIN STORM TO GENERATE EXPERIMENTS
• Observe
• Dive into the data
• “How are others doing it?”
• Question
• “Question brainstorming. Why? What is…How about this?”
• Associate
• “Connect the dots between unrelated things”
• Network
• “Join groups / ask fellow growth hackers for idea’s

2. PRIORITIZE
• PROBABILITY
• Low (20%) | Medium (50%) | High (80%)
• IMPACT
• “Comes from your hypothesis. Take into account long lasting effects”
• RESOURCES
• “Take into the actions that needs to be done by the company”

3. TEST
“What is the minimum viable test to understand our hypotheses?”

4. IMPLEMENT

5. ANALYZE
• Impact
• Results of the experiment
• Accuracy
• How far or close are you from your hypothesis
• Why
• “Why do you see the results that you did?”

6. SYSTEMIZE
• Productize
• Improve the product as much as possible with technology and engineering
• Playbook
• For steps that can’t be done by technology.. create a manual

CIRCLE IS COMPLETE!
1. BRAIN STORM
2. PRIORITIZE
3. TEST
4. IMPLEMENT
5. ANALYZE
6. SYSTEMIZE

GROWTH TEAMS &
MEETINGS
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THE GROWTH TEAM
• Product Manager Growth
• Analyst
• Growth Engineer
• Digital marketeers
• Specialist

FACEBOOK GROWTH TEAM

WEEKLY GROWTH MEETING
• Growth team participation
• 1 hour
• Before meeting all read backlog
• Not used for brainstorming!
• Similar to sprint planning / retrospective meetings from agile process
• Focus on process, accountability and velocity
Source: http://www.slideshare.net/500startups/02-brian-balfour-hub-spot-ﬁnal

EXAMPLE GROWTH AGENDA
• KPI review and update focus (15 mins)
• Review experiments last week (10 mins)
• Share key lessons learned from experiments (15 mins)
• Discuss selected tests for this week (15 mins)
• Idea backlog review and favourites (5 mins)

EXAMPLE WEEK
MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY
Growth Meeting:
• Personal learnings
• Goal review
• Experiment review
• Pipeline this week
Rest of the week:
• Analysing
• Prioritising
• Implementing
• Systemising

— Tools are only a way to grow or shrink…
“THINKING > TOOLING”
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DON’T FORGET…
WRITE DOWN ALL YOUR LEARNINGS
Source used: http://www.slideshare.net/500startups/02-brian-balfour-hub-spot-ﬁnal

Growth hacking workshop @ University of Amsterdam

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